The Reserve Bank of India notified that Jijamata Mahila Sahakari Bank Ltd., Satara, Maharashtra was placed under directions for a period of six months from the close of business on July 10, 2015 vide directive dated July 08, 2015 under Section 35A of the Banking Regulation Act, 1949 (AACS).
RBI in a press release said” It is hereby notified for the information of the public that the validity of the aforesaid directive has been extended for a period of six months from January 10, 2016 to July 09, 2016 vide our modified directive dated January 04, 2016 subject to review.
The other terms and conditions of the directive under reference shall remain unchanged. A copy of the directive dated January 04, 2016 is displayed at the bank’s premises for the perusal of public.
The aforesaid modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied of substantive improvement in the financial position of the bank.